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Changes in the Arbitration Law: Greater Certainty for Consumers Comes with Greater Control over Arbitration in Bulgaria
Article Summary: Amendments to the Bulgarian International Commercial Arbitration Act introduced a strict prohibition on arbitrating consumer disputes to protect individual consumers. The article examines how the legislative changes invalidate consumer arbitration clauses, establish judicial oversight, and impose administrative penalties on non-compliant institutions. This regulatory overhaul ensures enhanced consumer protection while restricting the scope of arbitrable matters under Bulgarian law.
Kluwer Arbitration Blog
Since the end of January 2017, a new law amending and supplementing the Code of Civil Procedure became effective (the “Law”). It also provides for amendments to the International Commercial Arbitration Act (“ICAA”) and to the Consumers Protection Act (“CPA”). Below is a summary of some of the key changes introduced by the Law.